CANADA, December 19 - Building on the momentum from the Council of the Federation meeting in Toronto, Ontario, earlier this week, Hon. Dennis King, Premier of Prince Edward Island, announced several initiatives to help foster stronger ties with the United States of America going into 2025.

A special Cabinet Committee on U.S. Relations has been established to engage and build stronger connections on both sides of the Canada-USA border. The committee will be chaired by Premier King and will include: Hon. Bloyce Thompson, Deputy Premier and Minister of Agriculture, Minister of Justice and Public Safety and Attorney General; Hon. Jill Burridge, Minister of Finance; Hon. Cory Deagle, Minister of Economic Development, Innovation and Trade; Hon. Zack Bell, Minister of Fisheries, Tourism, Sport and Culture.

The Committee’s mandate is to strengthen PEI’s economic and cultural connections with the United States, support key industries reliant on U.S. markets, and ensure that Prince Edward Island actively contributes to Canada’s broader strategy for engagement with the United States.

In the coming weeks, Premier King will be announcing a Team PEI delegation that will complete a mission to the United States early in 2025. The delegation will meet with key industry leaders, business associations, and stakeholders in the New England states to share critical information about the importance of tariff-free trade between the regions. The delegation will include elected officials, industry groups, business leaders, and PEI businesses that rely on exporting products to the United States.

A multifaceted advertising campaign will also be launched in key northeastern U.S. markets to promote products exported from Prince Edward Island and Canada and to highlight the potential impacts tariffs could have on the trade relationship.

The United States is Prince Edward Island’s top trading partner, with exports totalling $1.7 billion dollars per year, nearly 80% of PEI’s total exports.  Trade with the U.S. accounts for approximately 24% of PEI’s gross domestic product (GDP).

QUICK FACTS

• The United States is PEI's largest trading partner, accounting for almost 80% of its international exports.
• In 2023, PEI's exports to the U.S. were valued at about $1.7 billion, out of the total $2.4 billion in international exports.
• Trade with the U.S. represents around 24% of PEI’s GDP, highlighting its critical importance to the province’s economy.
• Growth in Prince Edward Island exports to the U.S. was expected in 2024.  Year to date, from January to October, trade was up 7.4% compared to the same period in 2023. 
• PEI's top exports to the U.S. include: Frozen potatoes, fresh potatoes, frozen lobster, diagnostic lab kits, prepared lobster. 
• The bioscience sector contributes significantly to trade with the U.S., with exports of pharmaceutical and health-related products rising annually. Export values of PEI's pharmaceutical and medicine manufacturing industry expanded to a ten-year high in 2023, valued at over $74 million.
• PEI's fishing and aquaculture industries exports to the U.S. were valued at over $85 million in 2023.
• PEI's agricultural industries exports to the U.S. were valued at over $250 million in 2023.
• Canada’s Premier’s announced earlier in the week that the Council of Federation would pursue a Mission in February 2025 to further cement ongoing work to build strong U.S. partnerships.

QUOTES: 

“The United States is a critical trading partner for Prince Edward Island. From agriculture to fisheries, health sciences and manufacturing, our economy is built on strong and lasting relationships that are mutually beneficial. As part of Team Canada, PEI will do our part to strengthen existing ties, create new opportunities, and ensure our Island’s voice is heard on the national and international stage. Collaboration is key, and this committee will help drive results for our province, and for our country.”

– Hon. Dennis King, Premier of Prince Edward Island and Chair of the Cabinet Committee on US Relations

“Agriculture is the backbone of Prince Edward Island’s economy, and the United States is our largest export market. Whether it’s our world-famous potatoes, dairy or other agri-food products, PEI farmers depend on open and reliable trade with our neighbours to the south. As Vice-Chair of this committee, I am committed to working for PEI producers so that they can continue to have access to the markets they need while we work with Team Canada to remove barriers, resolve disputes, and promote our top-quality agricultural products."– Hon. Bloyce Thompson, Deputy Premier and Minister of Agriculture, Minister of Justice and Public Safety and Attorney General and Vice-Chair of the Cabinet Committee on US Relations

“Economic prosperity for Prince Edward Island relies on strong trade partnerships. With the United States as a key trading partner, ensuring a smooth, open flow of goods and services across the border supports our businesses, jobs, and communities. By collaborating through Team Canada, we can ensure PEI’s economic priorities are advanced and that our shared trade relationships continue to benefit all Islanders.” – Hon. Jill Burridge, Minister of Finance 

“US markets are vital for PEI businesses, innovators, and entrepreneurs. Our ability to trade and collaborate with American partners creates jobs, fuels innovation, and grows our economy. Being part of Team Canada allows us to amplify our voice, promote our Island’s strengths, and attract new investment opportunities. Together, we can ensure PEI businesses thrive in a competitive, interconnected global economy.” – Hon. Cory Deagle, Minister of Economic Development, Innovation and Trade 

“PEI’s seafood and shellfish are not only staples of our economy but also cherished by consumers across the United States. Strengthening our trade relationships ensures that this vital industry continues to thrive, providing livelihoods for Islanders and high-quality products for our American neighbours.” – Hon. Zack Bell, Minister of Fisheries, Tourism, Sport and Culture 

Media contact: 
Emily Blue 
Office of the Premier 
emilyblue@gov.pe.ca